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2018-06-07 | FMD

Added · Updated

Regulations for Transactions with Authorised Dealers in Renminbi

The Central Bank of Nigeria (CBN) and the People's Bank of China (PBoC) have executed a Bilateral Currency Swap Agreement (BCSA) to facilitate trade and investments between both countries. The CBN may conduct bi-weekly bidding sessions to make Chinese Yuan (CNY) available to authorized dealers for trade-backed transactions. The regulations outline eligibility, mode of payment, intervention conduct, and applicable charges, with the CBN reserving the right to amend them as necessary.

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